08.24.2017 Bitcoin Segwit activated. Where to go from now?

08.24.2017 Bitcoin Segwit activated. Where to go from now?

It is done. Segwit was activated during Block 481.824 at 01:57 (UTC).  From now on we should see improved transaction speed and lower fees. Segwit solves transaction malleability and furthermore, it makes it easier to implement the Lightning Network which promises instant transactions by routing around the blockchain.  This would be one important technology needed to lift Bitcoin to an everyday app and maybe one day become the global payment standard.

Segwit ends the dispute between nodes and miners but the next big stress-test is already developing. In November Segwit2x will be another important milestone in the evolution of Bitcoin and the whole cryptocurrency universe. We will see how this one will turn out.

Cause this whole dispute tells us one thing: Bitcoin isn’t an autonomous system. It is influenced by different parties and financial powers with different interests. For them its all about maximizing their own profits and not fighting for the true spirit of Bitcoin. It’s like a Twitter user stated lately: If a group of CEOs can come together and unilaterally change the Bitcoin system then also the government can do…hence Bitcoin is dead.

Comments are closed.